San Francisco, Calif.
Went public 4/11/2000 at $13 apiece
Filing Range:9.1 mil. shares @ $10 to $12
Shares Outstanding:42.77 mil. shares
Credit Suisse First Boston/SG Cowen
(Data in $ millions)
Total Revenue $2.27 $10.51
Net Loss -15.67 -18.72
Exelixis provides model system genetics and comparative genomics services. By comparing the function of genes in simple model organisms with those of the human genome, the company believes that it has developed a faster and more efficient method to understand gene function and to select superior commercial product targets for life sciences companies. Model system genetics is a process that takes advantage of the short life cycle times, well-characterized biology, and ease of genetic maipulation in species like the fruit fly and nematode worm. Comparative genomics leverages functional information from one biological system across other biological systems. Comparative genomics are commercially applicable to all industries whose products can be enhanced by an understanding of DNA or proteins, including the pharmaceutical, agrochemical, agricultural, diagnostic and biotechnology industries. Exelixis has established collaborations with Bayer, Pharmacia & Upjohn and Bristol-Myers Squibb, as well as with U.S. government agencies and academic centers worldwide. Committed funding from such commercial collaborations totals more than $180 million.
Estimated net proceeds of $91.7 million will be used to fund research and development, working capital and other general corporate purposes and capital expenditures.
Atlas Venture, Oxford Bioscience Partners, Advent International Group, Hambrect & Quist Capital Management Inc., Creative BioMolecules Inc., International Biomedicine Management Partners Inc., Pharmacia & Upjohn AB
Edmund Olivier de Vezin